Team Thayer Property Servicing

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287 CLICK HERE TO VISIT THE TEAM THAYER WEBSITE

A  commentary  published by the  Federal Reserve Bank of Cleveland  found that slower economic growth has had little effect on income and wealth inequality in the United States. Daniel Carroll, an economist with the Cleveland Fed, and Eric Young, a professor at the University of Virginia, contend in their commentary titled " Zero Growth and Long Run Inequality " that "to the extent that different rates of trend growth are associated with changes in wealth inequality, lower growth tends to yield  less  inequality rather than more." Carroll and Young addressed research by Thomas Piketty which concluded that income inequality and wealth inequality increases as economic growth slows. Whereas Piketty's research made certain assumptions about the evolution of wealth distribution and the output of the economy, Carroll and Young based their commentary on a more sophisticated treatment of income and wealth distributions, such as those found in world con...

Foreclosure metrics were way down across the board again in July 2015, as pre-sale foreclosure inventory dropped to its lowest level since December 2007 and completed foreclosures were down by nearly 25 percent year-over-year, according to  CoreLogic 's  July 2015 National Foreclosure Report  released Tuesday. Completed foreclosures for July 2015 totaled approximately 38,000, which was a 24.4 percent declined from the previous July's total of 50,000. July 2015's total represented a 68 percent decline from the peak number of completed foreclosures (117,225) reached in September 2010. Completed foreclosures, which are a true measure of homes lost to foreclosure, have totaled 5.8 million nationwide since the financial crisis began in September 2008 and 7.8 million since homeownership rates peaked in Q2 2004, according to CoreLogic. While monthly completed foreclosure totals have been on the steady decline, July's total of 38,000 is still about 80 percent higher than t...

If you are one of those enthusiastic home buyers who think – ‘ What’s so difficult about buying a new property after all ?’, then the best advice would be to document yourself before you begin this journey. Purchasing a property all by yourself implies a lot of risks! So, are you willing to take your chances? House hunting with a real estate agent! Having a specialist in this transaction by your side gives you incredible advantages that you simply cannot have, especially as a  first-time buyer . The knowledge, the tools and the connections are just the cherry on top… So do you need a listing agent to buy you a house? You bet! Even though the internet has made it all easier, you simply cannot replace the expertise of a  real estate agent ! He/she will save you money, time and a lot of stress! So, the endless number of search sites and how-to guides can give you a starting point, but that’s it, because you’ll most likely come across documents or situations that you won...

Regardless of what endeavor you undertake, you always want to succeed. However, the harsh reality is people do fail in spite of the hard work they put in. Some of the reasons for failure are negligence, silly mistakes and being complacent. Failure is quite common to real estate investors and sometimes it can be so severe that these investors can get bankrupt. But why do real estate investors fail? What are the mistakes that they make? Here are the five major reasons: Image Courtesy of  khunaspix  / FreeDigitalPhotos.net 1. Too Many Risks It all starts with risks which is inherent in investment. But when the risk gets so high that you have to pull out equity or refinance other properties, it means you are heading to bankruptcy. Risk is involved in any kind of investment, including real estate investment. However, it is important to understand the different ways to navigate through these risks in order to succeed. Future is indeed unknown. Thus, it is best to keep ...

 Default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high, according to the latest report from  RealtyTrac . The U.S. foreclosure rate in May was one in every 1,041 housing units with a foreclosure filing. The increase in May was driven primarily by a jump in bank repossessions, which at 44,892 were down 1% from the previous month but up 58% from a year ago, and a 5% year-over-year increase in scheduled foreclosure auctions. REOs increased on a year-over-year basis for the third consecutive month, and scheduled foreclosure auctions have increased on a year-over-year basis in four of the last eight months. May REOs were 56% below the peak of 102,134 REOs in September 2013 but still nearly twice the average monthly number of 23,119 in 2005 and 2006 before the housing bubble burst in August 2006. (Also see special methodology note on REO da...

Team Thayer Real Estate News An estaimated 1.5 million "boomerang buyers" – those negatively affected by the housing crisis – could re-enter the housing market at some point in the next three years, according to a  study  released by TransUnion  on Wednesday. Boomerang buyers include those who are 60 or more days delinquent on a mortgage loan, have had a mortgage loan modified, or have lost a home through foreclosure, short sale, or deed-in-lieu of foreclosure. TransUnion estimates that about 700,000 boomerang buyers could re-enter the mortgage market in 2015, and another 2.2 million could re-enter the market over the next five years. "Based on our study findings, the burst had a significant and dramatic impact on many consumers' ability to re-enter the mortgage market after suffering through the downturn," said Joe Mellman, vice president and head of TransUnion's mortgage group. "It's been over seven years since the beginning of the mor...

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287 CLICK HERE TO VISIT THE TEAM THAYER WEBSITE Sharing is caring use the social b buttons below to share this post

Since a borrower's credit score influences a lender's decision on whether or not to give that borrower a single family mortgage loan, the importance of having a good credit score when buying a home cannot be underestimated,  according to Freddie Mac's  blog on Monday. According to  Freddie Mac , the best way to earn a high credit score is to pay debts on time that include credit cards, car payments, or student loan payments. Since a  recent survey by TransUnion found that three out four consumers know their credit score is important but are unaware of the critical role the score plays when they are seeking a mortgage loan, on Monday Freddie Mac published a list of helpful hints (as reported by financial-education company Financial Finesse) to consider for consumers who are trying to build a solid credit score or consumers who may not know of its importance. A credit score between 661 and 780 is generally considered good, with 700 being the "sweet spo...

Justin Lee Thayer / Eugene Oregon The number of borrowers who owe more money than their home is worth is slowly decreasing; however, more than half of these borrowers are stuck in an underwater free fall with little to no hope of resurfacing. According to  Zillow ’s first quarter  Negative Equity Report  released today, although the negative equity rate is falling, about 4 million homeowners owed at least 20 percent more than the worth of their home. In order for these underwater homeowners to even come close to breaking a sale, their homes would have to appreciate by more than the percentage at which they are underwater. "It's great news that the level of negative equity is falling, but what really worries me is the depth of negative equity,” said Dr. Stan Humphries, Zillow’s chief economist. “Millions of Americans are so far underwater, it's likely they may not re-gain equity for up to a decade or more at these rates," "And because negative equ...